Wednesday, September 13, 2006
Misery index hits 7-year high
Posted by David Smith at 07:30 PM
Category: Thoughts and responses

The misery index - a traditional measure of economic misery arrived at by adding the unemployment and inflation rates - is rising. Unemployment, on the Labour Force Survey measure, is at its highest since April 2000. Retail price inflation excluding mortgage payments (RPIX) is at its highest since November 1996 and hasn't been higher since March 1993, astonishingly.

The misery index is currently 9 - 5.7% unemployment, 3.3% RPIX inflation. It was last at this level in March 1999 - 6.3% unemployment, 2.7% inflation. It was last higher in June 1998 - 6.4% unemployment, 2.8% inflation.

Gordon Brown's final few months as chancellor are striking a miserable note.

Comments

I reasonably well off. However, I feel quite miserable each morning as I struggle to get on the train with half of Eastern Europe (good luck to them).

Posted by: ash at September 13, 2006 09:34 PM

Guess it's time to stock up on the Prozac.

Posted by: Werewolves at September 14, 2006 12:02 PM

Imagine what it would be like if we measured misery based on the true figure for Inflation and Unemployment, and not those figures cooked up by Gordon Brown and the ONS!

Posted by: JB at September 15, 2006 03:49 PM